Social Responsibility And Its Impact On Society

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In today’s economy, consumers are more inclined to shop at their local big box retailer where they can get plenty of selection at low prices instead of limited products and market rates. Being a mid-sized local grocery has its challenges when competing with these national chains, and Company Q is no different. Locally owned and operated businesses are an essential part of today’s society. Too often companies stress the quantity of profits over the quality of products. Not only do these kinds of choices belay negative social responsibility, this type of attitude can damage a growing business’s reputation. Company Q’s lack of concern for the underlying welfare of some of its primary stakeholders shows an attitude of impartiality towards the bottom line. Social responsibility is no longer expressed by how much money a company donates to charity, but by their overall participation in the community to enrich the quality of citizen’s lives.
In the past, businesses primarily concerned themselves with the economic results of their decisions. Company Q’s attitude toward social responsibility is more in line with the greedy shareholder model than that of the cooperating stakeholder model. The shareholder model ensures that the investors and owners get the lion’s share of the profits, whereas the stakeholder focuses on the feasibility of success to satisfy its stockholders. In this particular situation, the primary stakeholders are namely loyal customers, employees and the local

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